68,000 Malaysians lose jobs this year, mainly in manufacturing and retail
Around 68,000 workers have been laid off this year, with manufacturing, wholesale and retail trade hit hardest, while the unemployment rate stays at 3%.
Akmal said that this year 68,000 Malaysians have lost their jobs, with manufacturing, wholesale and retail trade among the most affected sectors. He noted that the unemployment rate held at 3% in July, indicating resilience in the labour market. The Social Security Organisation (Perkeso) assisted 143,653 workers in securing employment via the Employment Insurance System and MYFutureJobs.
While small and medium-sized enterprises grapple with higher operating and working-capital expenses, Bank Negara Malaysia reported that most firms continue to obtain required raw materials despite West Asia conflicts. The Malaysian Investment Development Authority has outlined 52 measures to turn Malaysia into a "World+1" hub for companies seeking supply-chain safety, targeting sectors like semiconductors, aerospace and green energy. Plans also include strengthening air and multimodal logistics hubs in Penang, Senai and KLIA Aeropolis and exploring new export markets and reconstruction projects in West Asia.
Why it matters
The layoffs highlight sectoral strain in Malaysia's economy while the unchanged unemployment rate shows underlying labour market resilience.
How the sides frame it
HIGH AGREEMENTBoth camps report the same scale of job losses and note labour-market resilience, but centre coverage stresses future supply-chain strategies while right-leaning coverage highlights labour-force growth and government re-employment programmes.
CENTER
Centrist coverage frames the story around a resilient labour market and upcoming policies to turn Malaysia into a supply-chain hub.
RIGHT
Right-leaning coverage frames the story around steady labour-force growth and government efforts to place job-seekers in new roles.
The right emphasises
- labour force rose to 17.37 million, showing steady growth
- government placed 143,653 job-seekers into new roles
- overall labour market remained resilient
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